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How do I answer the K-1 Wks PTN question under Part ll "Disposition"?

hmosbergea
Level 3

PTN did "check the box" exchange to be treated as a corporation.

The PTN (TEEKAY LNG PARTNERS) a publicly traded ptn doesn't recognize the exchange as a sale, but did show this was a Final K-1. The K-1 Wks wants to treat this as a sale or liquidation with sales price, basis, and other sales information. Without answers to these questions, errors show up. Suggestions on how to proceed would be appreciated.

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1 Best Answer

Accepted Solutions
sjrcpa
Level 15

Don't mark it as final. Delete it next year.

The more I know, the more I don't know.

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1 Comment 1
sjrcpa
Level 15

Don't mark it as final. Delete it next year.

The more I know, the more I don't know.